
China Updates Tax Refund Policy For Foreign Tourists
China has updated its tax refund policy for foreign tourists, shifting from a refund-upon-departure policy to a refund-upon-purchase model, the State Taxation Administration (STA) says. The STA said on Tuesday that under the new refund-upon-purchase policy, foreign visitors could instantly claim Value Added Tax (VAT) rebates at tax-free stores. It said the policy would enable…